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August 19, 2015

India Seeks Cooperation With Russia on Joint Projects – Ambassador


(Sputnik) India is currently working on a number of joint projects with Russia, Indian Ambassador to Russia Pundi Srinivasan Raghavan said.
"There are several projects under consideration under the Make in India program, especially in sectors such as engineering, aviation, infrastructure, research and development etc," the ambassador told RIA Novosti.
He said that Russia had expressed interest in technology transfers and the joint production of Sukhoi Superjets in India under the Make in India program, adding that some initial discussions had already taken place on the subject.
The Make In India project, launched in 2014, aims to attract financing to 25 sectors of the country’s economy, with 100 percent direct foreign investments allowed in most areas.
In January, India's Defense Minister Manohar Parrikar invited Russian defense enterprises to participate in the program.
Russia and India are major military trade partners. Over 70 percent of Indian Army weaponry is of Russian or Soviet design, according to the Russian Federal Service for Military-Technical Cooperation.
In late May, Indian businessmen arrived in Russia to meet with officials from Russia's Defense Ministry and seek partnerships in Moscow. Senior Counselor for the Russian Embassy in India Sergei Karmalito said Moscow was open to talks with Indian partners on various projects.

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